Howard Davidowitz, chairman of Davidowitz & Associates, warns that "the consumer is sinking," and the consumer's "balance sheet...and psyche is gone." But Bill Martin, co-founder of ShopperTrak, is a "little more optimistic": he says consumers remain "resilient" and determined to buy. With CNBC's Dylan Ratigan.

Holiday Survey

Wall Street is bracing for a slight Christmas, with CNBC's Steve Liesman

Holiday Central Survey

CNBC's Steve Liesman breaks down the survey results -- and what it might reflect in real spending terms.